Take A Look At If Seasonality Is Starting To Become Less Important

This Is The Time Of The Year When The Market's Busy

𝐇𝐨𝐛𝐨𝐤𝐞𝐧 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟏 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞

Today, we're going to do the November, 2021 market update and we're going to take a look at if seasonality is starting to become less important, which is the time of the year when the market's busy.

Let's take a look at what some of the numbers tell us and maybe help figure out what kind of decisions you could be making next year.

There are three indicators. First is under contract, which is how many buyers had accepted offers. Next is listings, how many sellers put their homes on the market. Then taking a look at overall inventory, what are buyers looking at and then how much competition is there for sellers? We look back to last year in 2020, we had just about 50, 52 homes go under contract. So buyers made offers and they were accepted. This year, that number ballooned to 81 people in Hoboken in November had offers accepted as a buyer.

On the listed side, we're seeing the opposite. We saw 108 homes listed in November in 2020 and only 85 homes listed in 2021. There is more demand but less supply. The last piece of this is inventory.

Buyers are out looking at properties and there's obviously a lot of demand, there's obviously not a lot of people putting their homes on the market. If you're waiting for a good time to sell, it may be a good time to get on the market now.

Waiting for the spring market is not the best move if we have a lot of people that are doing the same thing. If the timing doesn't work right and you really do want to wait for that next year, that's a personal decision, but don't wait because you think buyers are waiting as well. Buyers are here today.

I hope this market update helps. Give me a shout if you need to talk through your personal situation in more detail.

Real estate is highly personalized. Our whole team is ready to do a consultation, figure out what works best for you, inform you on what's going on in the market so you can make the most educated decision.

We'll see you next year with the next market update in January of 2022.

Have a happy holiday!